Between the permanent closures of C.Wonder and Kate Spade Saturday, it's been a sad few weeks for the world of fashion, and unfortunately, the bad news doesn't end there: Piperlime will also be closing its doors for good too. The closure includes both its online boutique and its Manhattan brick-and-mortar, which just opened in 2012.
The online retailer, owned by Gap Inc., is best known for it's chic boutique vibe, thanks to its large selection of trendy clothing, shoes and accessories. In the nine years Piperlime has been open, it has featured brands ranging from Levi's to Marc by Marc Jacobs. Fashion mavens like Olivia Palermo and Rachel Zoe have even graced the online shop as guest fashion editors.
E! reports that Piperlime's profits account for less than one percent of Gap Inc's total revenue, so it shouldn't be a total shock that the retailer wasn't able to stay afloat in such a competitive online shopping market. But just because Piperlime is going belly under doesn't mean the rest of Gap Inc. is headed in a downward spiral. The S&P 500 company still holds ownership of Gap, Old Navy and Banana Republic, which leaves it in a pretty strong position, at least in terms of retail fashion for the masses.
Though the news is disappointing, don't get all that sad yet because the NY Daily News reports that retailer isn't shutting down fully until April, so get those cute spring pieces now before it's too late! (We're sensing a few last minute sales.)